One popular analyst classified NEAR as “simply the best AI protocol in the ecosystem.”
The cryptocurrency market has rebounded over the past 24 hours, with Bitcoin , Ethereum , and many other leading digital assets posting slight increases. For its part, NEAR Protocol outperformed every competitor in the top 100 club, registering an impressive 12% pump.
NEAR has been at the forefront of gains lately, with its valuation rising to a monthly peak of around $1.45 just several hours ago. Currently, it trades at around $1.35 , representing a roughly 40% jump on a weekly scale. Its market capitalization has surpassed $1.7 billion, making it the 44th-largest cryptocurrency and flipping popular altcoins like Bittensor , Pi Network , and others. The main catalyst for the rally seems to be the latest technical upgrade announced by NEAR Protocol’s team. The project’s official X account“DeFi users, developers, and institutions now unlock a wide range of privacy-first use cases without forgoing discretion,” the disclosure reads.“Meanwhile, they continue to increase the rate of adoption under which AI enables privacy-first trading . Agentic payments are scaling, and Near is positioned to capture a lot of that flow,” they stated.it as “simply the best AI protocol in the ecosystem.” He wondered why investors wouldn’t want to add it to their portfolios, adding that from a technical standpoint, “it’s the best representation of the current status of altcoins.”the asset is trying to print “a cup and handle” formation on its price chart. This pattern consists of a rounded bottom and a small pullback on the right side , and together they usually signal a bullish setup.Despite the evident resurgence, NEAR remains far below its all-time high of around $20 witnessed at the start of 2022. Meanwhile, certain technical indicators suggest a correction could be on the way. The asset’s Relative Strength Index , which measures the speed and magnitude of recent price changes, has briefly climbed past 70. This means that NEAR has entered overbought territory and could be on the verge of a move south. Conversely, ratios below 30 are considered buying opportunities.Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
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